Photo courtesy of CBRE

Framingham-based developer Calare acquired a Woburn shopping center near Interstate 93 that’s leased to nine tenants.

The MetroNorth Shopping Center at 99-103 Commerce Way totals 38,000 square feet.

A deed filed in Middlesex County said the purchase price was $16.7 million and included “other good and valuable consideration.”

The property was developed in 2005. Tenants include Petco, the Vitamin Shoppe, Gardner Mattress, Pediatrics Urgent Care, Pro Nails & Spa, The Stretch Zone, Club Pilates, Liv’s Juice + Acai Bar and Starbucks.

CBRE represented the seller, Sun Life Assurance Co. of Canada, and arranged the financing.

“Well located retail strips have become one of the most compelling retail product types because of the deep pool of potential tenants and ability to drive rental growth anytime an existing tenant rolls. We anticipate 2025 will see continuing strong demand for well-located small strip properties,” CBRE Executive Vice President Nat Heald said in a statement.

First Citizen Bank and Trust provided $11.7 million in acquisition financing.